Summary: Bank Nederlandse Gemeenten (BNG) Jul 05

AbstractThe ratings on Bank Nederlandse Gemeenten (BNG) are based on the bank's 50% ownership by the Dutch State (AAA/Stable/A-1+) and its status as the leading lender to Dutch public authorities. The ratings are also supported by its excellent asset quality, strong capitalization, satisfactory profitability, and low cost base. With total assets of €88.6 billion at Dec. 31, 2004, BNG is the Netherlands' fifth-largest bank. Although BNG's obligations do not carry a state guarantee, the bank has substantial support from the 50% ownership by the Dutch State. Dutch municipalities and provinces own the majority of the remaining shares in the bank. Nevertheless, state support remains implicit and dependent upon circumstances. BNG's long-term mandate is to remain focused on Dutch public authorities,...

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating
of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS
READ MORE >